Cisco Systems Inc. Q1 adjusted earnings Beat Estimates

Cisco Systems Inc. (CSCO) announced a profit for first quarter that dropped from the same period last year.

The company's earnings came in at $2.9 billion, or $0.68 per share. This compares with $3.5 billion, or $0.77 per share, in last year's first quarter.

Excluding items, Cisco Systems Inc. reported adjusted earnings of $3.6 billion or $0.84 per share for the period.

Analysts had expected the company to earn $0.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.3% to $13.2 billion from $12.9 billion last year.

Cisco Systems Inc. earnings at a glance:

-Earnings (Q1): $3.6 Bln. vs. $3.5 Bln. last year.
-EPS (Q1): $0.84 vs. $0.75 last year.
-Analysts Estimate: $0.81
-Revenue (Q1): $13.2 Bln vs. $12.9 Bln last year.

Next quarter EPS guidance: $0.75 - $0.77

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